Analysts Anticipate Clearway Energy Inc (CWEN) Will Announce Quarterly Sales of $295.37 Million

Equities research analysts expect Clearway Energy Inc (NYSE:CWEN) to post sales of $295.37 million for the current quarter, Zacks reports. Two analysts have made estimates for Clearway Energy’s earnings, with the highest sales estimate coming in at $297.74 million and the lowest estimate coming in at $293.00 million. Clearway Energy posted sales of $265.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.5%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, November 6th.

On average, analysts expect that Clearway Energy will report full-year sales of $1.13 billion for the current year, with estimates ranging from $1.10 billion to $1.18 billion. For the next financial year, analysts expect that the company will post sales of $1.20 billion, with estimates ranging from $1.17 billion to $1.22 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Clearway Energy.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.27. Clearway Energy had a return on equity of 6.42% and a net margin of 5.20%. The business had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $274.39 million.

A number of equities research analysts recently issued reports on CWEN shares. TheStreet upgraded Clearway Energy from a “c” rating to a “b-” rating in a research note on Wednesday. Zacks Investment Research cut Clearway Energy from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th.

Clearway Energy stock traded down $0.16 during midday trading on Friday, reaching $19.41. The stock had a trading volume of 10,818 shares, compared to its average volume of 518,320. Clearway Energy has a 12 month low of $15.55 and a 12 month high of $20.75. The stock has a market capitalization of $3.79 billion, a P/E ratio of 24.09, a P/E/G ratio of 0.45 and a beta of 2.21. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.54 and a current ratio of 0.59.

Several hedge funds have recently bought and sold shares of CWEN. First Trust Advisors LP bought a new position in shares of Clearway Energy in the third quarter worth approximately $3,558,000. Chicago Equity Partners LLC bought a new position in shares of Clearway Energy in the third quarter worth approximately $1,701,000. W.E. Donoghue & Co. LLC bought a new position in shares of Clearway Energy in the third quarter worth approximately $953,000. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in shares of Clearway Energy in the third quarter worth approximately $879,000. Finally, Alps Advisors Inc. bought a new position in shares of Clearway Energy in the third quarter worth approximately $564,000. Institutional investors own 29.00% of the company’s stock.

Clearway Energy Company Profile

Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2017, it had contracted renewable and conventional generation portfolio of 5,118 net megawatt (MW).

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